Rep. Cooper isn't so sure federal money is going to be there for the bus rapid transit project Mayor Karl Dean wants to build. And there's a new opposition group.
“I think his view is that right now with sequestration going on, and until we strike some sort of grand bargain on the deficit, there’s just not a whole lot of extra money floating around out there for projects like this,” Hill said.
Metro public transit officials on Thursday unveiled their proposed name for the bus rapid transit line that is planned for the West End-East Nashville corridor and outlined their financing plans for the project. They see The Amp getting 43 percent of its $174 million in funding from the federal government, with the state providing for about 20 percent. And asked about community groups in North Nashville pressing for the line to cut through their community, Mayor Karl Dean said the dollars from D.C. would likely only come if the higher-density West End corridor is chosen.
The summary also highlighted BRT’s projected impact on traffic and travel times along the corridor. Projections included in the report showed that, in 10 years, an individual using BRT to travel from St. Thomas Hospital to Bridgestone Arena would arrive about twice as fast as someone travelling by car. Officials expect a ridership of more than 1.6 million in the first year of operation, based on ridership forecasts, and said that number is projected to grow to 2.5 million by 2022.
Click here to check out the full engineering and design analysis of the project.
Following Delek Logistics' first earnings report, two analysts following the infrastructure spinoff from Delek US Holdings have adjusted their view of its partner interests' valuation. Paul Cheng at Barclays says investors should continue to overweight Delek Logistics (Ticker: DKL) and has raised his price target to $33 from $26, saying the company's expected asset purchases will quickly boost its bottom line. Over at Wells Fargo, Roger Read isn't as enthusiastic and says the company's growth potential is being reflected in its current high-$20s valuation.
The American Council of Engineering Companies of Tennessee this week handed out its annual Engineering Excellence awards, recognizing three area projects. Winners of Grand Awards are the Korean Veteran Boulevard stretch from Fourth to Eighth avenues, the redecking of Interstate 24 in part of East Nashville and the Situational Awareness for Flooding Events program. Taking home top prize, the Grand Iris Award, are the engineers at EnSafe, who helped clean up contaminated groundwater at the U.S. Navy's installation in Millington. Check out all the details here.
Wells Fargo Securities has begun covering the limited partner interests of Delek Logistics with an 'outperform' rating and a price target range of $25 to $28. Delek Logistics was spun out of Delek US Holdings last month at $21 per share but hasn't done much since. Wells analysts say the company (Ticker: DKL) should be able to generate earnings growth averaging 11 percent a year through 2017.
Avondale Partners analyst Fred Lowrance says investors could do a lot worse than buying Ryman Hospitality Properties shares now that it looks like the company will next year sport a dividend yield of about 6.5 percent. On top of that, he says, bringing the muscle of Marriott's sales group to the Gaylord family of hotels should boost cash flows back to Ryman. "We thus feel comfortable arguing that RHP should trade much closer to where peers have historically," he wrote clients this week.
Ryman shares (Ticker: RHP) have climbed more than 10 percent to about $37 since the company paid out its big one-time dividend last month. Lowrance sees them going to $49, up from his previous target of $48.